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TORONTO, May 7 /CNW/ - Rogers Communications Inc. ("Rogers") announced
today that it has agreed to purchase for cancellation an additional 1,300,000
of its outstanding Class B Non-Voting shares ("Class B shares"), or
approximately 0.25% of the Class B shares outstanding at April 30, 2009,
pursuant to a private agreement between Rogers and an arm's-length third party
seller (the "Private Purchase") for an aggregate purchase price of
$36,725,000. The Private Purchase was made under an issuer bid exemption order
issued by the Ontario Securities Commission. The Class B shares purchased
under the Private Purchase will be included in calculating the number of Class
B shares that Rogers may purchase through its outstanding normal course issuer
bid.
In the twelve months preceding this purchase, Rogers has repurchased an
aggregate 5,300,000 Class B shares pursuant to issuer bid exemption orders
issued by the Ontario Securities Commission and repurchased an aggregate
77,400 Class B shares pursuant to a prior normal course issuer bid. Of these,
an aggregate 4,077,400 Class B shares were repurchased during 2008 and
1,300,000 Class B shares have been previously repurchased in 2009.
About the Company:
We are a diversified Canadian communications and media company. We are
engaged in wireless voice and data communications services through Rogers
Wireless, Canada's largest wireless provider and the operator of the country's
only national GSM and HSPA based network. Through Rogers Cable we are one of
Canada's largest providers of cable television services as well as high-speed
Internet access, telephony services and video retailing. Through Rogers Media,
we are engaged in radio and television broadcasting, televised shopping,
magazines and trade publications, and sports entertainment. We are publicly
traded on the Toronto Stock Exchange (TSX: RCI.a and RCI.b) and on the New
York Stock Exchange (NYSE: RCI).